Pachter: PS3 at $299 in April, XBox 360 Price Cut to Follow

Well known gaming industry analyst Michael Pachter believes that Sony will drop the price of the PlayStation 3 to $299 this April.

Pacther also indicated that Microsoft may further lower its price on the XBox 360.

To quote: Pachter, however, believes the $399 price point will finally come down to $299 in just a few months. Microsoft is likely to drop its price on the 360 as well.

"Once the PS3 is at a more affordable price point (we expect a cut to $299 in April), we think that sales of that device will once again begin to grow. We expect another cut in price for the Xbox 360, with the feature-laden Pro model likely to come down in price to $249 at or before this year's E3 show in June.

We expect Nintendo to maintain Wii pricing at $249 until the company sees signs that demand is slowing, which means a price cut may not happen until late in the year, if at all," Pachter said.